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Lumber could see 25% tariffs in early April

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Trump sees tariffs raising big revenues

(Adds details on lumber tariffs)

By Andrea Shalal and Kanishka Singh

ABOARD AIR FORCE ONE, Feb 19 (Reuters) - U.S. President

Donald Trump said on Wednesday he will announce fresh tariffs

over the next month or sooner, adding lumber and forest products

to previously announced plans to impose duties on imported cars,

semiconductors and pharmaceuticals.

"I'm going to be announcing tariffs on cars and

semiconductors and chips and pharmaceuticals, drugs and

pharmaceuticals and lumber, probably, and some other things over

the next month or sooner," Trump said at a conference in Miami.

Speaking to reporters on Air Force One as he traveled back

to Washington, Trump said he was thinking about a 25% tariff on

lumber and forest products, to take effect around April 2, when

a tariff on autos of around the same amount is expected.

He said he expected tariffs to generate large revenues for

the United States, but also offered countries a reprieve if they

lowered or removed their own tariffs on U.S. goods.

Trump on Tuesday said he also intends to impose similar

duties on semiconductors and pharmaceuticals, the latest in a

series of measures threatening to upend international trade.

Those tariffs would also start at "25% or higher", rising

substantially over the course of a year. He did not provide a

date for announcing those duties and said he wanted to provide

some time for drug and chip makers to set up U.S. factories so

they can avoid tariffs.

Since returning to office four weeks ago, Trump has

imposed an additional 10% tariff on all imports from China over

China's failure to halt fentanyl trafficking. He also announced,

and then delayed for a month, 25% tariffs on goods from Mexico

and non-energy imports from Canada.

Last week, he unveiled plans to slap reciprocal tariffs

on all countries that have tariffs on U.S. goods or set up

non-tariff barriers to limit U.S. access to their markets.

EU trade chief Maros Sefcovic met with U.S.

counterparts - Commerce Secretary Howard Lutnick, Trump's

nominee to be U.S. Trade Representative Jamieson Greer and

National Economic Council director Kevin Hassett - in Washington

on Wednesday to discuss the various tariffs facing U.S. trading

partners.

Trump's threats have changed over time, leaving other

nations and businesses unclear of what is to come next. Some

economists and experts have warned Trump's sweeping tariffs will

stoke inflation.

(Reporting by Andrea Shalal and Kanishka Singh; Editing by

Leslie Adler and Lincoln Feast.)